Newsletter Article

Changes to Retirement Rules Being Considered

Recently President Trump signed an executive order that asked the Department of Labor and the Department of Treasury to review certain aspects of how retirement plans operated.

The executive order asks the DOL and Treasury to review the feasibility of changing the rules for Required Minimum Distributions so that they would start later than age 70 1/2, their current start date. It also asks them to explore a rules change to allow the creation of pooled Multiple Employer Plans, which would make it easier for multiple businesses to come together to create a single 401(k) plan.

Despite the order, this is not an official change of rules or policy. The agencies have merely been asked to review their policies for possible changes and have been given until the end of February 2019 to complete their review. At this time, the executive order has no effect on your retirement plan.